Current Yield

Bonds Tumble on Turbulent Week

Global political turmoil and strong U.S. jobs data conspired to push up yields on government debt.

A holiday week didn't offer much respite for bonds, as a coup in Egypt, the resignation of two key Portuguese government ministers, and a surprisingly strong June employment report all conspired to push up yields on government debt.

On the domestic front, the biggest hit came Friday when the Labor Department reported that the U.S. economy added 195,000 new jobs in June, beating consensus expectations, with April and May job gains also revised higher. Although the unemployment rate remained unchanged at 7.6%, bond investors...